Southmead Development Trust operates the Greenway Centre, a locally-run business centre and community hub.
Key information
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Focus area
Social lending -
Investment type
Enterprise debt -
Region
South West -
Duration
7 years -
Investment amount
£50,000 -
Cost of capital
4%
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Challenge
Southmead is one of the most deprived areas of Bristol, and falls within the 10% most deprived place in England. Many people experience inequality, having lower life expectancy, educational opportunities and employment prospects that people living in more affluent areas.
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Approach
The Greenway Centre, run by Southmead Development Trust, serves the local community, providing training courses for job seekers, fitness classes for referrals from local GPs, facilities for local groups and a business centre for local start-ups.
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Revenue model
The Trust took on a loan to install 207 solar panels on the roof of the Greenway Centre. Regular income from the feed-in tariff is used to repay the loan.
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Impact
The solar panels have reduced overheads at the centre, so that they can host a playscheme without charge and offer reduced gym membership and low rents to community businesses that will bring money into the local economy.
Related investment
Community Energy Fund
Fund enabling communities to develop renewable energy projects.
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